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their idea, roughly speaking, is we need to invade panama and talk the panama canal back because obviously, communists or something. the panama canal and up all night hair on fire fantasies about communists coming up the canal to come get us in the middle of the night, those have been around for a while, in the 1970s and the 1980s. the panama canal was the fast and furious, birth certificate, the president is a secret muslim conspiracy theory of its day. when that panama canal conspiracy theory was lighting up the tin foil hats of the generation ago, it was an ambition politician named ronal reagan who took that issue from the fringe and decide today mainstream it into national mainstream republican politics. he based his presidential campaign in part on this insane idea that the panama canal was basically an american state that we can't let the communists steal this american thing from us. he mainstreamed this paranoid far right fantasy that if we went along with our treaty obligations to let panama run its own canal, then america would seize to exist. we would be destroyed as a nation. i
their idea, roughly speaking, is we need to invade panama and talk the panama canal back because obviously, communists or something. the panama canal and up all night hair on fire fantasies about communists coming up the canal to come get us in the middle of the night, those have been around for a while, in the 1970s and the 1980s. the panama canal was the fast and furious, birth certificate, the president is a secret muslim conspiracy theory of its day. when that panama canal conspiracy theory...
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capital came from foreign investors and the money actually came through corporations regist registered in panama which actually gave very preferential tax treatment. you didn't have to pay a whole lot of taxes. and so this story actually highlights the nebulous world of offshore accounts, tax perks for very wealthy folks that have been dogging mitt romney and his campaign now for a couple of weeks. >> there's the headline there of the article that you just mentioned, bain capital started with help of offshore investors. we should note here, of course, the romney campaign responding today, their response, here it is in part, quote, president obama's own jobs council advocating more foreign direct investment in the u.s. to help grow the economy, something president obama himself has been unable to do, as illustrated by the recent downgrades in gdp forecast. how these investors chose to invest is their decision, not bain capital's. do you think, mark murray, do you think any of this adds fuel to the fire over romney's tenure at bai? >> you know, craig, i think the danger for romney campaign is ther
capital came from foreign investors and the money actually came through corporations regist registered in panama which actually gave very preferential tax treatment. you didn't have to pay a whole lot of taxes. and so this story actually highlights the nebulous world of offshore accounts, tax perks for very wealthy folks that have been dogging mitt romney and his campaign now for a couple of weeks. >> there's the headline there of the article that you just mentioned, bain capital started...
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some of the most secretive of business laws exist there in panama. does that story prove the president's points, that business leaders don't come by successful initiatives on their own? >> well, i think certainly not, tom. i think the recent polls you've cited have shown that the president's false attacks on mitt romney aren't working right now and the people care about the economy. i want to turn to your point about the context of the president's you didn't build that remark. there was a good article by phil klein this morning saying that the contextually made that comment worse. if you look at the whole speech and what he's arguing, it's that the way that we're going to fix this economy, the way that we're going to get out of this ditch is through more government and not by unleashing the private sector. his argument was that people, small business owners, you're not that smart, you didn't work that hard, you didn't earn that. it happened because of the government. that's the wrong way to look at our economy right now. it's shown over the last thre
some of the most secretive of business laws exist there in panama. does that story prove the president's points, that business leaders don't come by successful initiatives on their own? >> well, i think certainly not, tom. i think the recent polls you've cited have shown that the president's false attacks on mitt romney aren't working right now and the people care about the economy. i want to turn to your point about the context of the president's you didn't build that remark. there was a...
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the times says quote, most of the foreign investors' money came through corporations registered in panama. then known for tax advantages and unusual banking secrecy. but it didn't matter to romney where the money was coming from, he knew there was little risk to him in starting his investment fund. he was assured by his boss bill bain back in 1984 that starting up bain capital would be a non-risk prospect for romney. ezra klein at the washington post writes, romney would get his old job and salary back plus any raises he would have earned during his absence. and bain promised that if necessary he would craft a cover story saying that romney's return to bain and company was needed because of his value as a consultant. so there was no professional or financial risk. no professional or financial risk. that's the kind of security that's denied to most americans. there's also news today undercutting romney's claim that he left bain back in 1999 to run the salt lake city olympics. >> i had no association with the banishment of bain capital after february of 1999. that's when i left the firm. i'
the times says quote, most of the foreign investors' money came through corporations registered in panama. then known for tax advantages and unusual banking secrecy. but it didn't matter to romney where the money was coming from, he knew there was little risk to him in starting his investment fund. he was assured by his boss bill bain back in 1984 that starting up bain capital would be a non-risk prospect for romney. ezra klein at the washington post writes, romney would get his old job and...
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some of the most secretive of business laws exist there in panama. does that story prove the president's points, that business leaders don't come by successful initiatives on their own? >> well, i think certainly not, tom. i think the recent polls you've cited have shown that the president's false attacks on mitt romney aren't working right now and the people care about the economy. i want to turn to your point about the context of the president's you didn't build that remark. there was a good article by phil klein this morning saying that the contextually made that comment worse. if you look at the whole speech and what he's arguing, it's that
some of the most secretive of business laws exist there in panama. does that story prove the president's points, that business leaders don't come by successful initiatives on their own? >> well, i think certainly not, tom. i think the recent polls you've cited have shown that the president's false attacks on mitt romney aren't working right now and the people care about the economy. i want to turn to your point about the context of the president's you didn't build that remark. there was a...
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this is all talking about the fact that now reports have shown how bain was started by panama money, foreign money sources. is this a legitimate argument to have? >> it's all legitimate because it gets to who these people are, how they made their money. how they could possibly run things as president. but look, mitt romney is whacking away at president obama's achilles heel, which is jobs. the weak economy and the fact that jobs just aren't growing as fast as the american people would like. president obama is whacking away at mitt romney's achilles heel over the tax issue, over his lack of disclosure and you know, i agree with susan that there will be a reset button hit strategically advantageously for mitt romney. but i say ultimately, this tax return issue is an issue that's not going to go away. it just isn't. if the romney campaign doesn't do something before the debates, he's going to get whacked really, really hard. because this gets to -- the overall issue of transparency. whether you can trust the person who you are hoping -- who is asking you for your vote, that he's being t
this is all talking about the fact that now reports have shown how bain was started by panama money, foreign money sources. is this a legitimate argument to have? >> it's all legitimate because it gets to who these people are, how they made their money. how they could possibly run things as president. but look, mitt romney is whacking away at president obama's achilles heel, which is jobs. the weak economy and the fact that jobs just aren't growing as fast as the american people would...
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. >> carnival is incorporated in panama, royal caribbean in liberia and princess cruises in bermuda even though their headquarters are in florida, a source of contention for rockefeller. from 2004 to 2011, carnival paid just 1.1% in federal state and foreign taxes, yet recorded $11.3 billion in profits. the cruz line's international soaks is no matter where a boat is registered all lines have to follow the international rules of the sea. but he concedes there are tax advantages to registering outside the united states. >> are there some fees and taxation considerations that go into that? certainly. we pay a wide array of fees and duties and we pay all of the taxes that we're required to pay. >> of all commercial cruise ships, only one, norwegian's pride of america is registered in the united states. >> carnival ships are registered in several companies. the costa cruise line flies an italian flag. senator rockefeller says the industry is piloting it's boats right through legal loopholes. >> they don't reimburse coast guard, they don't pay taxes which would help with these 20 federal agen
. >> carnival is incorporated in panama, royal caribbean in liberia and princess cruises in bermuda even though their headquarters are in florida, a source of contention for rockefeller. from 2004 to 2011, carnival paid just 1.1% in federal state and foreign taxes, yet recorded $11.3 billion in profits. the cruz line's international soaks is no matter where a boat is registered all lines have to follow the international rules of the sea. but he concedes there are tax advantages to...
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most of the foreign investors' money came through corporations registered in panama. and then known for tax advantages and unusual banking secrecy. in an interview with abc news this morning, anne romney was asked to respond to thebain attacks and she came out swinging. >> i was beneath the dignity of the office of the president to do something as egregious as that. to attack somebody on that level is i believe beneath his dignity. >> nbc's senior political editor mark murray is here. he joins me now. and mark, fascinating numbers on the polls. we'll put it up there. 47-46. obama 47-41. razor thin race and obama seems to be just brought down by his handling of the economy. can't shake it. >> luke, there are two forces at play which show why the polls pretty much are the same. that this race is essentially tied or deadlocked, however you want to describe it. the economic forces keeping president obama down, but also, the fact that people aren't yet still sold on mitt romney. and these two forces are at play right now which explains why we see president obama up two or
most of the foreign investors' money came through corporations registered in panama. and then known for tax advantages and unusual banking secrecy. in an interview with abc news this morning, anne romney was asked to respond to thebain attacks and she came out swinging. >> i was beneath the dignity of the office of the president to do something as egregious as that. to attack somebody on that level is i believe beneath his dignity. >> nbc's senior political editor mark murray is...